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Disney returns to profits in third quarter as streaming business starts making money for first time

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The Walt Disney Co. returned to a profitable third quarter as its combined streaming business started making money for the first time and the movie Inside

FILE - The Cinderella Castle is seen at the Magic Kingdom at Walt Disney World, July 14, 2023, in Lake Buena Vista, Fla. Out 2 did well in theaters.

Stripping out one-time gains, earnings were $1.39 per share, easily topping the $1.20 analysts polled by Zacks Investment Research expected. Operating income for the entertainment segment nearly tripled to $1.2 billion thanks to better performances from its direct-to-consumer and content sales/licensing and Other segments.

Content sales/licensing and Other reported $254 million in operating income, helped by the strong performance of Inside Out 2 at movie theaters.LOS ANGELES — An earthquake northwest of Los Angeles shook a large swath of Southern California on Tuesday night, but there were no immediate reports of damage. The U.S. Geological Survey said the 5.2 magnitude temblor stuck at 9:09 p.m. and was centered near Mettler, an unincorporated area in Kern County about 85 miles BOONE, N.C.

 

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